XRP has seen a significant drop from its record-high of $3.65, falling over 15% to approximately $3.09 in light of a wider market downturn affecting major altcoins like Solana and Dogecoin. This decline has been attributed to macroeconomic concerns and market exhaustion, as investors await potential interest rate cuts from the U.S. Federal Reserve. Katie Talati, Director of Research at Arca, noted that the volatility in cryptocurrency markets often results in sharp pullbacks following rapid increases. XRP's newfound highs follow seven years of setbacks, with analysts viewing its price surge as validation of Ripple's vision for regulatory compliance in blockchain technology. Despite these recent drops, experts believe XRP retains potential for upward movement, particularly with its strong retail investor support and the conclusion of a lengthy legal battle with the SEC that may now render it a less risky investment.

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